Lyft stock falls despite earnings beat and raising guidance for year

  • 📰 CNBC
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 72%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

Lyft slides despite an earnings beat. Here are the key numbers: Loss per share: $1.57 vs. $1.66, per Refinitiv estimates Revenue: $955.6 million vs. $915 million, per Refinitiv estimates

on Wednesday released its earnings report for the third quarter, where it beat on both the top and bottom lines, as well as raised its revenue guidance for 2019. The stock fluctuated following the report and was down as much as 1.4% in extended trading.$955.6 million vs. $915 million, per Refinitiv estimates

For the full year, Lyft now expects to report revenue between $3.57 billion and $3.58 billion, which is an increase from its prior guidance of $3.47 billion to $3.50 billion. The company also projected revenue between $975 million and $985 million for the fourth quarter, which significantly exceeds analysts' expectations for $943 million in revenue.

"We're not doing food, not doing trucking," Roberts said. "We are 100% focused on our transportation network and platform scale to unlock more efficiency." In addition to the better-than-expected results and brighter guidance, the company reported it had 22.3 million "active riders" on its platform in the third quarter, compared to consensus estimates of 22.1 million active riders. Revenue per active rider surged 27% year-over-year to $42.8 million.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

What are the odds Lyft and Uber eventually merge?

$LYFT

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Lyft gaining on Uber going into third-quarter earnings, new data shows - Business Insider'We prefer Lyft,' an HSBC analyst said going into both ride-hailing companies' third-quarter earnings reports this month.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Lyft set to report earnings after the bellAnalysts will be paying close to attention to Lyft's losses in its third quarter results.
Source: CNBC - 🏆 12. / 72 Read more »